Apollo Tyres Ltd. has entered into Saudi Arabia through an agreement with Al-Jomaih Tyres Company Limited, the exclusive distributors for the Kingdom. Apollo Tyres will focus on the large and growing truck-bus radial and passenger car tire market, aiming to capture a sizeable market share in each of the segments in the next couple of years.
Shubhro Ghosh, group head, ASEAN, Middle East & Africa, Apollo Tyres Ltd, said, “The entry into the Kingdom of Saudi Arabia is the culmination of a long-term product planning and development programs. We are now ready with products suited to cater to the Saudi market, which is the largest and [one of the most] important replacement tire markets in the Middle East region, through our dedicated team of sales and service professionals, and a very able business partner in Al-Jomaih Tyres.”
Ghosh said Saudi Arabia has a market potential of approximately 22 million tires. The company has set a goal of selling 800,000 tires per year, including both commercial vehicle and passenger vehicle tires, within the next five years.
Commenting on the collaboration with Apollo Tyres, Sheikh Abdullah Al-Jomaih, CEO of Al-Jomaih Tyres, said “We are highly impressed with the quality and performance reputation of Apollo’s tires. We have noticed that the premium tier 2 market in Saudi has been expanding at a fast pace and Apollo Tyres meets the need of local customers who are seeking quality products at competitive prices.”
The tires sold in Saudi Arabia would be customized to meet the local market requirements and would be covered under a five-year warranty from the date of manufacturing, Apollo Tyres says.
Apollo Tyres set up its hub for the Middle East and Africa region in Dubai in 2011 and has since managed to expand its presence rapidly in region, the company says.